Quarterly Financial Report 31 March 2021
International Personal Finance plc
Consolidated Quarterly Financial Report for the period ended 31 March 2021
Management Board Report
Principal activity
International Personal Finance plc specialises in providing unsecured consumer credit to 1.7 million customers across 11 markets. We operate the world's largest home credit business and a fintech operator, IPF Digital.
Financial and operational highlights
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Robust trading performance in Q1 and improved financial performance | |||||
| o | Good progress made in rebuilding the business and serving our customers safely | |||||
| o | Improving credit issued with YoY contraction moderating to 18% in Q1 2021 compared to 31% in Q4 2020 | |||||
| o | Continued strong collections performance delivered 5.2 ppt improvement in impairment as a percentage of revenue to 32.2% | |||||
| o | Significant improvement in financial performance - group profit before tax of £24.0 million | |||||
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Strong funding position and well-capitalised balance sheet | |||||
| o | Well capitalised balance sheet - equity to receivables ratio 54.4% | |||||
| o | Bond and bank facilities total £591 million of funding to support future growth | |||||
| o | Headroom on undrawn facilities and non-operational cash balances of £175 million |
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| Group key statistics | Q1 2020 | Q1 2021 | YOY change at CER | |||
| Customer numbers (000s) | 2,040 | 1,660 | (18.6%) | |||
| Credit issued (£m) | 271.2 | 214.2 | (18.4%) | |||
| Revenue (£m) | 196.7 | 130.9 | (30.9%) | |||
| Annualised impairment % revenue | 28.2% | 32.2% | (4.0 ppt) | |||
| Cost-income ratio | 44.2% | 49.4% | (5.2 ppt) | |||
| Statutory PBT (£m) | 8.4 | 24.0 | ||||
| Statutory EPS | 2.3 | 5.7 | ||||
Please refer to the associated PDF document to view the full announcement.
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